US: CEO switcharound at Fortune Brands
Fortune Brands has disclosed its plans for the transition of its CEO next year.
The parent company of Beam Global Spirits & Wine said today (21 August) that current president and COO Bruce Carbonari will succeed Norm Wesley in the position from January.
Carbonari, who was previously president and CEO of Moen Incorporated before it was acquired by Fortune, led the company's home and hardware subsidiary before being elected president and COO.
Wesley, who will have served as CEO for eight years at the time of transition, shall maintain his position as chairman of the board.
Wesley said: "Bruce has been a big part of Fortune Brands' success over his 17 years with the company. He's led our biggest brand and our biggest business unit, generating strong growth at each. As president, he's skilfully overseen all our company operations.
"By continuing to serve as chairman, I will look forward to continuing to lead major strategic initiatives, including our interest in the sale process surrounding Absolut vodka."
Carbonari added: "I'm honoured by the opportunity to succeed Norm as CEO at year end and to lead a great team of 33,000 Fortune Brands people worldwide."
In acquiring 50%-ownership and global distribution rights to premium vodka brand Ketel One Diageo confirmed its withdrawal from the auction for Absolut. Moreover, writes Ben Cooper, the move for Ketel...
Beam Global Spirits & Wine has teamed up with The National Criminal Enforcement Association in the US, and The European Forum for Responsible Drinking in an effort to promote responsible drinking....
Vin & Sprit has shrugged off reports that the Swedish state exaggerated its prospective results in a prospectus used to promote the sale of the company....
DeKuyper has organised its portfolio of cordials and liqueurs into five separate categories in an effort to simplify its product offering in the US....
Constellation Brands has stayed silent on reports that it may be selling three of its Beam Wine Estate wineries as well as 1,000 acres of vineyards in Sonoma County in the US....
Diageo and the Nolet family will form a new company owning the exclusive global rights to sell, market and distribute Ketel One vodka, in a move that confirms Diageo is out of the running in the sale ...
Beam Global Spirits & Wine is celebrating a production milestone for its Jim Beam Bourbon brand....
Pernod Ricard's Spanish unit has lined up the sale of 14 Sherry and brandy brands to Osborne....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- Allegro: The shape of things to come at Pernod?
- Pernod Ricard's FY Performance by Region, Brand
- US craft vodka puts squeeze on Pernod's Absolut
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- ASA bans Jägermeister TV ad
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory